A product development proposal is a document that proposes a plan for developing a product. It is usually presented by the research team of a company, in order to upgrade an already existing product to survive in the competitive market and generate better sales. The proposal must include the need for product development, cost of development and the expected benefit of the project.
Sample Product Development Proposal:
Proposal for the development of cell phone batteries
CSG Telecom Pvt. Ltd.
Proposal Presented by: Mr. Henry Gill,
Chairperson, core research team, CSG Telecom Pvt. Ltd.
Proposal Presented to: Mr. George Bates.
Director, CSG Telecom Pvt. Ltd.
Proposal submitted on: 10th July, 2011.
The research team of our company puts this proposal before you, for the development of cell phone batteries, which is reported to be creating troubles, by many of our customers. We have planned to upgrade the battery, changing the chemical composition and packaging of the product, thereby increasing the longevity and working of the product. Certain health problems, which are caused due to excessive use to cell phones, are also addressed. The total cost of this project will be approximately $ 25,00,000.
The research team proposes to do the following:
- Change the chemical composition of the battery.
- Develop the product packaging.
- Address the key health issues, arising out of cell phone battery.
It is my sincerest request to you to give your permission for our product development proposal, which can make our product different in the market and generate better sales as well. Hoping to get your approval ad final nod very soon.